Chapter 11 in 2017 seemed to be a paradox. On one hand, every day seemed to bring news of a national retailer filing for protection. On the other hand, the American Bankruptcy Institute, which monitors Chapter 11 commercial filings, contends that there were fewer filings because of the high cost. The Honorable Michael B. Kaplan, U.S. Bankruptcy Judge for the District of New Jersey, provides unvarnished answers to ABF Journal’s questions about the state of Chapter 11 today.
The Philadelphia Credit and Restructuring Summit celebrated its 10th anniversary by moving to a new location and adding a panel of women executives to the lineup. Lenders, turnaround professionals and bankruptcy judges enjoyed a round of Judicial Jeopardy before discussing serious matters ranging from possible federal tariffs on foreign goods to the ramifications of the Supreme Court’s ruling on structured dismissals in bankruptcy.